| Weekly E-News |
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| MARKET TRENDS |
Interest rates set to remain unchanged - Property24, 17 July
2013
The Governor of the South African Reserve Bank (SARB), Gill Marcus,
will announce the Monetary Policy Committee’s (MPC) decision on interest rates
on Thursday, however, economists believe the repo rate will remain unchanged at
5 percent.
SA economic overview and investments - Property24, 17 July
2013
Global growth expectations for 2013 and 2014 have been revised to
below expectations with real GDP growth for the world now expected at 3.0
percent in 2013 and 3.8 percent in 2014 from 3.1 percent in 2012, according to
Craig Pheiffer, head of Private Client Asset Management at Absa.
Gordhan launches extensive review of SA’s tax system -
Business Day, 17 July 2013
Finance Minister Pravin Gordhan has initiated
a far-reaching and fundamental review of South Africa’s tax system that will be
undertaken by a team of eminent tax experts led by Judge Dennis Davis.
Low growth in household credit and mortgage balances - eProp,
15 July 2013
May 2013 saw year-on-year (y/y) growth in outstanding
credit balances in the South African private sector (households and the
corporate sector) remaining unchanged at 9,1% from
end-April. |
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| GENERAL PROPERTY
NEWS |
Penalties on construction companies are fair, says Competition
Commission - Business Day, 18 July 2013
The Competition Commission
says it is satisfied with its fast-track settlement process with construction
firms, saying it had received "wholesale disclosure" from the companies
involved.
Informal settlement population: unchanged since 1994 -
Moneyweb, 17 July 2013
South Africa has almost the same number of people
living in informal settlements now as it did in 1994, Minister in the Presidency
Trevor Manuel said on Wednesday.
Danville to get houses on Mandela Day - Property24, 16 July
2013
South Africans are gearing up this week to celebrate International
Mandela Day on which President Jacob Zuma will mark the day by handing over
houses to the community of Danville in Pretoria.
Protea Hotels plans expansion in Zambia - eProp, 16 July
2013
Protea Hospitality Group says it is significantly expanding its
Protea Hotel in Lusaka as part of its African expansion drive.
Claw back bonuses from colluding executives - eProp, 15 July
2013
South Africa’s largest investor, the Public Investment Corporation
(PIC), says construction firms recently fined R1.46bn for colluding to fix
tenders for soccer stadiums, roads and other major projects, should claw back
bonuses from the crooked executives who fixed the
projects. |
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| RESIDENTIAL
PROPERTY NEWS |
How to avoid buyer’s remorse - Property24, 18 July 2013
Worldwide, in good and bad economic times, financial consultants have always
advocated investing a significant portion of their clients’ portfolio in
property.
Student accommodation and zoning laws - Property24, 18 July
2013
In the case, Stellenbosch Municipality v Van Wyk and Others
(1549/2012) [2013] ZAWCHC 18 (8 February 2013), the court granted the
Stellenbosch Municipality’s application for an interdict to prohibit a property
owner from offering student accommodation if the property zoning only allows for
a dwelling house to be occupied by one family.
Near-retirees dominate Q2 house sales - FNB - 17 July 2013
Over a fifth of owners selling their homes are nearing retirement age and
seeking to scale down, according to the a study released on Wednesday.
Small home prices are booming - Iafrica.com, 17 July 2013
The latest Absa home loan statistical analysis of South African residential
prices appears to fulfill a prediction made by Mike van Alphen, National Manager
of the Rawson Property Group’s bond origination division, Rawson Finance, early
this year.
Expensive
property rental locations - Property24, 15 July 2013
Prime rents in
key cities globally rose by 0.2 percent in Q1 2013, with a strong rise in many
emerging markets such as top three markets Dubai (18.3 percent), Nairobi (13.9
percent) and Beijing (12.3 percent) in the year to March, according to the
Knight Frank Prime Global Rental Index.
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| COMMERCIAL
PROPERTY NEWS |
Boost for Durban Cornubia Development - Property24, 18 July
2013
The inter-governmental, multibillion rand Cornubia Development,
situated north of Durban, is underway and has just received a major boost after
the South African National Roads Agency Limited (SANRAL) agreed to fund the bulk
of R830 million N2/M41 interchange.
May retail sales growth accelerates - Moneyweb, 17 July
2013
Growth in South Africa's retail sales quickened more than expected
to 6.2% year-on-year in May from a revised 2% in April, Statistics South Africa
said on Wednesday.
Retailers turn increasingly to loyalty schemes to entice
customers - eProp, 17 July 2013
Retailers are increasingly turning
to loyalty schemes as they try to keep existing customers and capture the
attention of potential consumers, according to market research conducted by the
Newspaper Advertising Bureau’s (NAB’s) 2013 Roots survey.
Slow growth weighs on office property - eProp, 17 July
2013
Weighed down by pedestrian economic growth, the office market
continues to be the laggard of South Africa’s commercial property market, while
the industrial sector is "in equilibrium" and retail property continues to
perform well.
Commercial and Industrial property auctions show massive
growth - eProp, 17 July 2013
91 exciting Commercial and industrial
Properties with a total sales value of almost R 170m have been successfully sold
under the gavel of well known Auctioneer, Andrew Miller over the past 12 months.
New R1.35bn Spring Valley Housing Project in Mpumalanga -
eProp, 17 July 2013
A new R1.35-billion Spring Valley Housing Project
that is rapidly taking shape in the heart of Mpumalanga’s coal mining belt is
setting a benchmark for the provision by mines and others of employer assisted
affordable housing.
Blue-chip tenants spur demand in property market - eProp, 16
July 2013
Performance of commercial properties in SA is highly dependant
on the size and quality of tenants, according to Paragon Lending Solutions CEO
Gary Palmer.
How retail brands thrive in fast-changing global arena -
eProp, 15 July 2013
Understanding the new, volatile world of retail, and
how to thrive as a retail brand in the fast-changing global arena are just two
of the topics being unpacked at the 17th annual Congress of the SA Council of
Shopping Centres in September.
Property returns in Southern African rival returns in developed
countries - eProp, 12 July 2013
Exceptional real estate returns in
Southern Africa are just the first step for investors, as risk mitigation and
understanding their own risk budget are just as critical.
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| LISTED PROPERTY
NEWS |
SARB approves inward list for Redefine International on the
JSE - eProp, 18 July 2013
Redefine International announced it has
received approval from the South African Reserve Bank (SARB) to inward list on
the Johannesburg Stock Exchange, subject to certain conditions.
Volatility supports a wait-and-see approach to listed property
- eProp, 16 July 2013
After offering South African investors phenomenal
returns over the past 10 years, the SA Listed Property Index plummeted 11% in
May 2013 to record the index’s third worst monthly decline since its 2002
launch.
Nepi debt bid routine in Europe - eProp, 15 July 2013
Deals such as New Europe Property Investments’ (Nepi’s) proposed acquisition
of a Romanian retail park’s debt are more common in Europe than in South Africa,
reflecting the relatively healthy state of South Africa’s listed property and
banking sectors, analysts say. |
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| ESTATE AGENT
NEWS |
Over R1.5bn sales for RE/MAX this June - Property24, 18 July
2013
Despite the colder months traditionally being a slower period in
the property market, RE/MAX of Southern Africa posted the second highest month
of sales in the history of the company.
Branding a top priority at Rawson - Property24, 15 July
2013
Awareness of the Rawson Property Group’s brand is currently at a
higher level than ever before in its 35 year history. This is according to Bill
Rawson and is the result of a sustained, ongoing effort to create this
awareness. |
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| SPECIFIC AREAS |
Buy property on KZN's Hibiscus coast - Property24, 18 July
2013
Those who own property along the 70 kilometre stretch of coastline
that is KwaZulu-Natal’s Hibiscus Coast from Umzumbe to Port Edward are able to
enjoy an everyday reality of dipping toes into warm ocean water, falling asleep
to the sound of the waves, exploring blue flag beaches, and meditating on
sunrises as well as lush, colourful vegetation.
Property in sought-after Faerie Glen - Property24, 17 July
2013
Situated on the southern slopes of the Bronberg Mountain is the
popular Pretoria East suburb of Faerie Glen. Located between Lynwood and
Garsfontein, the suburb has become a sought-after place to live with much
development occurring in the area over the past decade, although this has slowed
in recent years.
Secure living at Welgevonden Estate - Property24, 17 July
2013
Welgevonden Estate on the northern edge of Stellenbosch is enjoying
sustained demand from buyers seeking a secure, family-friendly lifestyle.
New CT Maitland homes from R299k - Property24, 16 July
2013
The Cape Town Community Housing Company has released the third
phase of their Mountain View Villas development in Maitland.
Constantia Uitsig Wine Estate on the market for R175m -
Moneyweb, 12 July 2013
One of the Cape’s most exclusive wine estates,
the historic Constantia Uitsig is on the market for R175 million. It is nestled
against the back- slopes of Table Mountain in one of the most scenic locations
in the heart of the Constantia Wine Valley, the oldest in the country.
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| INTERNATIONAL
PROPERTY NEWS |
Bernanke says Fed flexible on bond buying - Business Day, 18
July 2013
US Federal Reserve chairman Ben Bernanke said on Wednesday the
central bank’s asset purchases "are by no means on a preset course" and could be
reduced more quickly, or expanded, as economic conditions warrant.
IMF says China needs reforms to keep growth success -
Moneyweb, 17 July 2013
China needs another round of "decisive measures"
to make sure it continues its successful economic growth as its margins of
safety are falling amid growing domestic problems, the International Monetary
Fund said in its latest report.
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